Question 7 7010 Hamad Company signs a lease agreement on January 1, 2020, to lease a machine to All Company The form of the non-cancelables 3 years and payments are 5.5 points required at the end of each year. The machine has a cost and fair value of $400,000 to Hard Company. The useful economico is 3 years with $5.000 value All Company is required to pay $8.000 each year to the lessor for property taxes. Huniad Company desires to earn a return of 10% on its rivestiment Additional information: The present value of an ordinary Arnuty of 51 and the present value of an Arruty Due of 1 for 5 periods at 8%, and to res follows: The present value of an ordinary Annuity of 51 Period 0% 93 10% 0.92503 0.01743 0.0000D 1.78320 1 75911 1.72654 3 257710 2.53129 2 40035 331213 3.23072 310087 5 3.00271 380065 3.79070 1 2. The present value of an Annuity. Due of 51 Period 1.00000 100000 1.92593 191743 278326 275011 357710 353129 5 431221 423072 10% 100000 1.00000 2.73554 3.48685 4 16987 A Question Completion Status 4 5 DITU 431221 42972 416987 The present value of $1 at 10% for 3 periods is 0.75132 Instructions: (a) Prepare an amortization schedule through the year 2020 that would be suitable for the Less (D) Prepare the journal entries on the books of Hamad Company to settect the payments tecnwed tunder the lease and to recognize incerte for the year 2020 For the toolbar.press ALT F10 Por ALTHAN+F10 M. B IVS Paragraph Arial 148 BE AIXO GQ A: B): STRONG SAMSUNG Question 7 7010 Hamad Company signs a lease agreement on January 1, 2020, to lease a machine to All Company The form of the non-cancelables 3 years and payments are 5.5 points required at the end of each year. The machine has a cost and fair value of $400,000 to Hard Company. The useful economico is 3 years with $5.000 value All Company is required to pay $8.000 each year to the lessor for property taxes. Huniad Company desires to earn a return of 10% on its rivestiment Additional information: The present value of an ordinary Arnuty of 51 and the present value of an Arruty Due of 1 for 5 periods at 8%, and to res follows: The present value of an ordinary Annuity of 51 Period 0% 93 10% 0.92503 0.01743 0.0000D 1.78320 1 75911 1.72654 3 257710 2.53129 2 40035 331213 3.23072 310087 5 3.00271 380065 3.79070 1 2. The present value of an Annuity. Due of 51 Period 1.00000 100000 1.92593 191743 278326 275011 357710 353129 5 431221 423072 10% 100000 1.00000 2.73554 3.48685 4 16987 A Question Completion Status 4 5 DITU 431221 42972 416987 The present value of $1 at 10% for 3 periods is 0.75132 Instructions: (a) Prepare an amortization schedule through the year 2020 that would be suitable for the Less (D) Prepare the journal entries on the books of Hamad Company to settect the payments tecnwed tunder the lease and to recognize incerte for the year 2020 For the toolbar.press ALT F10 Por ALTHAN+F10 M. B IVS Paragraph Arial 148 BE AIXO GQ A: B): STRONG SAMSUNG